Paytm has launched QR code based payments in the Paytm Wallet app, which can be used by shopkeepers or service providers in order to accept digital payments. Users can also pay via the Wallet app. The QR code will contain Paytm account details of the merchants, while the buyer only has to enter the payment amount and approve the payment.
The QR code option, according to the company, will allow kirana stores, autorickshaws, taxis, cabs, fast food joints among others to carry a laminated QR code, which will allow them to receive payment without a data connection. These service providers will receive a transaction confirmation through SMS on a basic phone.
Merchants will be able to generate dynamic QR codes which will have the amount to be paid and the merchant’s Paytm details. Currently, a one time password is generated on receiving the user’s mobile number. Paytm plans to launch a payment app for merchants with ‘wider functionalities’. It has enabled payments for Pizza Hut, KFC and Costa Coffee along with other unnamed vendors.
Note that earlier this month, ICICI Bank’s digital payments product Pockets also allows users to make cashless payments from their smartphones at physical stores, e-commerce websites and deliveries at home. The feature has been enabled by Visa’s new mobile payment solution mVisa.
Last week, Paytm, which raised an undisclosed amount in fresh funding from Alibaba and Ant Financial last month, entered the hyperlocal services vertical, starting with food ordering, table bookings, cinema tickets and deals in the user’s neighbourhood. The company mentioned that it had entered into partnership with companies like BookMyShow and Zomato to provide these services.
Movie and entertainment ticket sale
Last month, the company said it would add movie and entertainment tickets on its platform within a week, although this feature is yet to launch. At the time, the company revealed that Bookmyshow, the biggest player in the entertainment ticketing industry would also be able to list as a seller on its ticketing platform.
In the same month, Paytm appointed Nitin Misra as VP of payments business. Misra will head the product pipeline for Paytm’s core payments business.
In July, Paytm invested $50 million along with investors SAIF Partners and Tiger Global Management for establishing an online to offline app-only marketplace called Little. The ‘Little’ app would basically act as a discovery platform for customers while letting offline merchants sell online to users in the area.
Mobile delivery and grocery delivery app Zip
Last week, Paytm also started offering 2 hour mobile phone deliveries in partnership with The MobileStore. The service allowed users to make a purchase, get it delivered in 2 hours as well as avail assistance on setting up the phone and familiarizing themselves with the device. Note that in April, the company had also launched an app called Zip which was to connect local offline and online grocers, as its foray into hyperlocal grocery services. However, the app was pulled within 2 months of launch.
Paytm also has a tie up with the hyperlocal on-demand transport and delivery services provider Jugnoo, which raised $5 million from Snow Leopard and Paytm in June. In August, Paytm claimed to have crossed 100 million users in the country, while carrying out over 75 million transactions per month.
Our Paytm coverage here.